Virtual reality has been around for years, but the concept’s maturity means multiple metaverse fights for supremacy. In addition, a new World Wide Web is emerging where everything can virtually be. So, how are people trying to make money in the metaverse?
The most common business model in the metaverse is the art gallery. Artists and collectors create exhibitions of NFT artworks where visitors can purchase items they like.
For example, galleries of popular NFT marketplaces have been built in Decentraland, such as Super Rare, Known Origin, and Makers Place. In Cryptovoxels, galleries like Pure Gold Gallery, Panda Gallery, and BCA Gallery built by independent artists let you click on all the paintings and go to the marketplace to learn more or buy.
Unlike the physical world, the metaverse comprises digital objects, which are often more expensive than in the real world.
The right shoe GYBxB20 was sold at Cryptovoxels for 18 ETH coins. At the time of the sale, in May 2021, this price was $30,000. Some designers even create things to order.
For example, the DappCraft studio has created Coca-Cola branded jackets to be worn in Decentraland.
Decentramind uses the power of thousands of GPUs and hard drives managed by a single network to provide various services within the metaverses aimed at the more efficient operation of virtual spaces. For example, you can realize the feeling of the user’s presence, achieved by manually recreating 3D objects to photogrammetry.
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Decentramind also offers a backend for simulating interactions in virtual reality. The inability to simulate the study of the world through the usual channels of obtaining information (such as touch, hearing, etc.) reduces immersion to almost zero.
This is also true for physical interactions in a virtual environment: the ability to take a product from the Metaverse store shelf and see its characteristics contributes to a complete immersion in the world of metaverses.
Some inhabitants of the metaverse own land, but they do not have the time and energy to create their buildings. However, with the help of their services, many large companies have already built their headquarters in the metaverse. Maff Metaverse studio helps in the construction of objects and the development of a marketing strategy for bringing the brand to the metaverse.
Artists have begun to hold online concerts in virtual worlds. The 3D meta allows viewers to experience the event’s atmosphere better than watching a live stream on YouTube. For example, in October 2021, DJ Deadmau5 performed at Decentraland.
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Famous artists can achieve effects that are unattainable in reality: changing the stage after each song, starting swimming with fish, or going with the audience into space.
As the rest of this decade progresses, the meta will only get more realistic, more immersive, and more accurate. Anything is possible in meta, and business opportunities evolve alongside that metaverse magic.
Featured image from Pixabay, chart from TradingView.com
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